Over the years, people have used different marketing strategies to promote their businesses and products. They jumped from one type of marketing to another depending on the benefits they offer to their businesses. The most important factor that attributes to the success of these marketing strategies is the potential reach.
Four Billion! Yes that right there is the number of email users around the globe. 99 percent of the email users check their inboxes daily and over 306 billion emails are sent and received each and every day. Wondering why you are reading email statistics here? It is just to show you how much of a ground you can cover through email marketing. If you are a business owner, your most obvious goals would be the growth and expansion of your business among others. Marketing is the key factor for the success and growth of any business. The success of your business is directly proportional to the strength of your marketing strategies and channels. So, while choosing where to spend your marketing funds, it is important that you weigh the costs and benefits of your marketing strategies. That being said, let us have a look at 10 benefits that email marketing could bring to your business. Before that lets just have a brief overview of what email marketing is.
What is email marketing?
In simple terms, email marketing is using email services to promote one’s business, services or products. With this, the businesses send out emails to their potential and existing customers, business partners etc., about their new products, services and other discounts. Companies use email marketing to attract the attention of potential customers and also to keep the existing customers updated with new offers and services. If you are new to email marketing or have been using it for quite some time, the 2022 email marketing event could help you connect and discover new trends and technologies in email marketing. Checkout their website for more information about the event.
Now, let’s have a look at the benefits of email marketing for your business.
First and foremost thing you need to look at is the costs associated with your marketing strategy. Think of the money you would have to spend on mainstream marketing strategies like advertisements on TV channels, billboards etc. or the costs and efforts associated with printing pamphlets or newspaper or magazine ads. Now, to email marketing. This mode of marketing costs you no print charges, no postage charges, no commercial charges nor other fees. Email marketers deliver the information to thousands of customers at the same time and the costs associated with it are far lower than all the other marketing strategies used by businesses.
Easy to use
With as many wonders as email marketing brings to the businesses, one must think that there is a complex mechanism behind all this. But there isn’t. That is also another reason to prefer email marketing. Although you level up the campaign with templates, media, logos etc. A simple email could also work wonders if the content of the email is just right. If you choose to utilize email marketing platforms, there are many of them that offer amazing templates, drag and drop editors to customize the emails like you want. This does not require any technological expertise to get started with.
There is always a significant difference between being addressed in a group and being addressed individually. Which do you think works the best? The latter, right? How do you feel when you receive messages in bulk? And how do you feel when the messages are tailored to you? One would respond better when the message is addressed to the individual. With email marketing you can send out personalized emails to the users which increases the chances of them opening the email and responding to it. Email marketing allows you to send emails to the customers who meet a certain criteria. You can divide them up based on their preference, location and several other criteria and send them the emails with related content. You can also send them new offers and discounts through email based on their product preferences.
How many marketing strategies out there let the customer buy the products right away? Not many, right?
With email marketing, the products and services are delivered right into the hands of the customers. As long as the email content is right in place, the purchase is literally 2 to 3 clicks away. Since the messages are delivered right into the inboxes of the customers, impulse buying of the customers could add up to your benefits. This way the sales could go up exponentially in a short time frame.
Engage with Existing Audience
However much important it is to attract new customers, it is equally important to engage with the ones that have already shown interest in your products and services. 49% of the consumers reported that they would like to get promotional emails from their favorite businesses on a weekly basis. Concentrating on those that are already interested in your brand could increase your conversion rates. Email marketing could help you send out emails to those that are already engaged with your business and increase your conversion rates.
Email marketing could even make your customers promote your business. Unlike several other types of marketing, with email marketing, your customers can share your marketing email to their friends and family in a single click, when they like it. People sometimes share the offers to those who might be interested in them, even if they themselves aren’t. Email marketing could make this process easier for them and beneficial for your business.
Almost all marketing strategies have their limitations and most are restricted by geographical boundaries. Email marketing on the other hand could reach the customers across the world and has no boundaries restricting it.
High Returns on investment(ROI)
High returns on investment is what every business wishes to achieve. Email marketing gets you higher returns on your investment than any other form of marketing. For each dollar you spend you can expect an average return of 42 dollars. This benefit of email marketing tops all the others as it can add up to the success of your business and also keeps the business steady and going.
Real Time reports
With email marketing you can also get real time reports on how well your marketing strategy is working. You will know how many customers have opened the email right after they click on it. You can track the real-time conversion rates, click-through rates and others with email marketing. Unlike other marketing strategies, here we have a chance to know how well your campaign is going or where you are going wrong.
Almost all forms of marketing that we know take time to bring out results. Email marketing on the other hand could bring results immediately. Advertisements, commercials, newspapers, magazines etc takes about a week on average for the customers to make a purchase. Since the email marketing allows the customers to make a purchase immediately, you can see the results within minutes after sending out the emails. The sales even go up when you create a sense of urgency, like a sale that ends in a day or two or ones that lasts for an hour like midnight sale or tea time sale or a mid-day sale, whatever that creates the sense of urgency in the customers and makes them want to make a purchase.
Since you have made it to the end, you might already know how email marketing can change your business for the better. It is one of the best marketing strategies out there that is cost effective and at the same time could deliver you high returns on investments. This is the best possible way to attract new leads and also keep in touch with the existing ones so that you don’t lose their loyalty. You can make more out of it when you are up to date with current trends in email marketing and your field of business. Make sure you do that and see your email marketing strategy work wonders for you and your business.